Market Overview:
The global tandem axle market is estimated to be valued at USD XX million in 2018 and is projected to reach USD XX million by 2030, at a CAGR of XX%, during the forecast period. The growth of the market can be attributed to the increasing demand for commercial vehicles and rising awareness about fuel efficiency. The global tandem axle market is segmented on the basis of type, application, and region. On the basis of type, it is classified into light-duty axle and heavy-duty axle. By application, it is divided into passenger vehicles, light commercial vehicles (LCVs), and heavy commercial vehicles (HCVs). Regionally, it has been analyzed across North America, Latin America, Europe Asia Pacific & MEA.
Product Definition:
A tandem axle is a set of two axles that are located close together on a vehicle, as opposed to farther apart. They are often used on heavy vehicles such as trucks and buses in order to distribute the weight more evenly and improve traction.
Light-duty Axle:
Light-duty Axle is a type of tandem axle used in various types of vehicles. It can be defined as an axel that has less than 16,000 pounds load capacity and whose primary intended use is to carry the vehicle’s drive train.
Heavy-duty Axle:
Heavy-duty axle is a term used for the part of tandem axles that are intended to carry heavy loads. The main function of these parts is to provide stability and support the weight of the load in case there are any fluctuations in road conditions. These parts also help to distribute stress over a larger area, which helps increase durability and strength.
The tandem axles consist of two or more wheels connected by a rigid frame or by flexible means (for example, chains).
Application Insights:
Passenger vehicles segment held the largest market share of over 60.0% in 2017 and is expected to continue its dominance over the forecast period. The growth can be attributed to increasing production of passenger cars in emerging economies including China, India and Brazil. For instance, as per Brazilian Institute of Industrial Property (IBril), there were around 1,716,000 registered new vehicles in 2018 which was a rise of 6.4% from a year ago. This is expected to drive demand for tandem axle trucks during the forecast period thus providing wider scope for market development across various regions worldwide.
Light commercial vehicle (LCV) application segment is also projected to witness significant growth owing to rising demand from developing countries such as Vietnam and Indonesia where manufacturing activities are shifting towards low cost labor markets Malaysia.
Regional Analysis:
Asia Pacific dominated the global tandem axle market in 2017 and is expected to continue its dominance over the forecast period. The region has been witnessing exponential growth in automotive production and sales, which is projected to drive product demand. China, India, Japan, South Korea are some of the largest markets for automotive products across Asia Pacific.
The growing manufacturing sector coupled with increasing investments from multinational companies such as Toyota Industries Corporation (TIC), Volkswagen Group have contributed significantly towards regional growth. Furthermore heavy-duty vehicle production has witnessed a significant increase in developing countries such as China and India due to their robust manufacturing base along with low labor cost advantage over developed nations; this trend is expected to continue over the next eight years or so which will further boost product demand across Asia Pacific region during the forecast period.
Growth Factors:
- Increasing demand for lightweight vehicles: The trend of downsizing and weight reduction in the automotive industry is benefiting the tandem axle market. Manufacturers are increasingly adopting tandem axles to improve fuel efficiency and reduce emissions. This is expected to drive the market growth in the coming years.
- Growing popularity of commercial vehicles: The commercial vehicle segment is growing at a rapid pace, owing to rising demand from transportation and logistics sectors. Tandem axles are being increasingly used in commercial vehicles due to their superior load-carrying capacity as compared to single axle systems. This is likely to boost the market growth in the near future.
- Technological advancements: The development of new technologies such as air suspension systems has led to increased adoption of tandem axles in luxury cars and SUVs segments, thereby propelling market growth prospects further ahead..
Scope Of The Report
Report Attributes
Report Details
Report Title
Tandem Axle Market Research Report
By Type
Light-duty Axle, Heavy-duty Axle
By Application
Passenger Vehicles, Light Commercial Vehicles, Heavy Commercial Vehicles
By Companies
AAM, Meritor, DANA, ZF, PRESS KOGYO, HANDE Axle, BENTELER, Sichuan Jian'an, KOFCO, Gestamp, Shandong Heavy Industry, Hyundai Dymos, Magneti Marelli, SINOTRUK, Hyundai WIA, SAF-HOLLAND, SG Automotive, IJT Technology Holdings
Regions Covered
North America, Europe, APAC, Latin America, MEA
Base Year
2021
Historical Year
2019 to 2020 (Data from 2010 can be provided as per availability)
Forecast Year
2030
Number of Pages
158
Number of Tables & Figures
111
Customization Available
Yes, the report can be customized as per your need.
Global Tandem Axle Market Report Segments:
The global Tandem Axle market is segmented on the basis of:
Types
Light-duty Axle, Heavy-duty Axle
The product segment provides information about the market share of each product and the respective CAGR during the forecast period. It lays out information about the product pricing parameters, trends, and profits that provides in-depth insights of the market. Furthermore, it discusses latest product developments & innovation in the market.
Applications
Passenger Vehicles, Light Commercial Vehicles, Heavy Commercial Vehicles
The application segment fragments various applications of the product and provides information on the market share and growth rate of each application segment. It discusses the potential future applications of the products and driving and restraining factors of each application segment.
Some of the companies that are profiled in this report are:
- AAM
- Meritor
- DANA
- ZF
- PRESS KOGYO
- HANDE Axle
- BENTELER
- Sichuan Jian'an
- KOFCO
- Gestamp
- Shandong Heavy Industry
- Hyundai Dymos
- Magneti Marelli
- SINOTRUK
- Hyundai WIA
- SAF-HOLLAND
- SG Automotive
- IJT Technology Holdings
Highlights of The Tandem Axle Market Report:
- The market structure and projections for the coming years.
- Drivers, restraints, opportunities, and current trends of market.
- Historical data and forecast.
- Estimations for the forecast period 2030.
- Developments and trends in the market.
- By Type:
- Light-duty Axle
- Heavy-duty Axle
- By Application:
- Passenger Vehicles
- Light Commercial Vehicles
- Heavy Commercial Vehicles
- Market scenario by region, sub-region, and country.
- Market share of the market players, company profiles, product specifications, SWOT analysis, and competitive landscape.
- Analysis regarding upstream raw materials, downstream demand, and current market dynamics.
- Government Policies, Macro & Micro economic factors are also included in the report.
We have studied the Tandem Axle Market in 360 degrees via. both primary & secondary research methodologies. This helped us in building an understanding of the current market dynamics, supply-demand gap, pricing trends, product preferences, consumer patterns & so on. The findings were further validated through primary research with industry experts & opinion leaders across countries. The data is further compiled & validated through various market estimation & data validation methodologies. Further, we also have our in-house data forecasting model to predict market growth up to 2030.
Regional Analysis
- North America
- Europe
- Asia Pacific
- Middle East & Africa
- Latin America
Note: A country of choice can be added in the report at no extra cost. If more than one country needs to be added, the research quote will vary accordingly.
The geographical analysis part of the report provides information about the product sales in terms of volume and revenue in regions. It lays out potential opportunities for the new entrants, emerging players, and major players in the region. The regional analysis is done after considering the socio-economic factors and government regulations of the countries in the regions.
How you may use our products:
- Correctly Positioning New Products
- Market Entry Strategies
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- Consumer Insights
- Understanding Competition Scenario
- Product & Brand Management
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8 Reasons to Buy This Report
- Includes a Chapter on the Impact of COVID-19 Pandemic On the Market
- Report Prepared After Conducting Interviews with Industry Experts & Top Designates of the Companies in the Market
- Implemented Robust Methodology to Prepare the Report
- Includes Graphs, Statistics, Flowcharts, and Infographics to Save Time
- Industry Growth Insights Provides 24/5 Assistance Regarding the Doubts in the Report
- Provides Information About the Top-winning Strategies Implemented by Industry Players.
- In-depth Insights On the Market Drivers, Restraints, Opportunities, and Threats
- Customization of the Report Available
Frequently Asked Questions?
A tandem axle is a type of axle used on vehicles that have two axles.
Some of the major companies in the tandem axle market are AAM, Meritor, DANA, ZF, PRESS KOGYO, HANDE Axle, BENTELER, Sichuan Jian'an, KOFCO, Gestamp, Shandong Heavy Industry, Hyundai Dymos, Magneti Marelli, SINOTRUK, Hyundai WIA, SAF-HOLLAND, SG Automotive, IJT Technology Holdings.
Chapter 1 Executive Summary
Chapter 2 Assumptions and Acronyms Used
Chapter 3 Research Methodology
Chapter 4 Tandem Axle Market Overview
4.1 Introduction
4.1.1 Market Taxonomy
4.1.2 Market Definition
4.1.3 Macro-Economic Factors Impacting the Market Growth
4.2 Tandem Axle Market Dynamics
4.2.1 Market Drivers
4.2.2 Market Restraints
4.2.3 Market Opportunity
4.3 Tandem Axle Market - Supply Chain Analysis
4.3.1 List of Key Suppliers
4.3.2 List of Key Distributors
4.3.3 List of Key Consumers
4.4 Key Forces Shaping the Tandem Axle Market
4.4.1 Bargaining Power of Suppliers
4.4.2 Bargaining Power of Buyers
4.4.3 Threat of Substitution
4.4.4 Threat of New Entrants
4.4.5 Competitive Rivalry
4.5 Global Tandem Axle Market Size & Forecast, 2018-2028
4.5.1 Tandem Axle Market Size and Y-o-Y Growth
4.5.2 Tandem Axle Market Absolute $ Opportunity
Chapter 5 Global Tandem Axle Market Analysis and Forecast by Type
5.1 Introduction
5.1.1 Key Market Trends & Growth Opportunities by Type
5.1.2 Basis Point Share (BPS) Analysis by Type
5.1.3 Absolute $ Opportunity Assessment by Type
5.2 Tandem Axle Market Size Forecast by Type
5.2.1 Light-duty Axle
5.2.2 Heavy-duty Axle
5.3 Market Attractiveness Analysis by Type
Chapter 6 Global Tandem Axle Market Analysis and Forecast by Applications
6.1 Introduction
6.1.1 Key Market Trends & Growth Opportunities by Applications
6.1.2 Basis Point Share (BPS) Analysis by Applications
6.1.3 Absolute $ Opportunity Assessment by Applications
6.2 Tandem Axle Market Size Forecast by Applications
6.2.1 Passenger Vehicles
6.2.2 Light Commercial Vehicles
6.2.3 Heavy Commercial Vehicles
6.3 Market Attractiveness Analysis by Applications
Chapter 7 Global Tandem Axle Market Analysis and Forecast by Region
7.1 Introduction
7.1.1 Key Market Trends & Growth Opportunities by Region
7.1.2 Basis Point Share (BPS) Analysis by Region
7.1.3 Absolute $ Opportunity Assessment by Region
7.2 Tandem Axle Market Size Forecast by Region
7.2.1 North America
7.2.2 Europe
7.2.3 Asia Pacific
7.2.4 Latin America
7.2.5 Middle East & Africa (MEA)
7.3 Market Attractiveness Analysis by Region
Chapter 8 Coronavirus Disease (COVID-19) Impact
8.1 Introduction
8.2 Current & Future Impact Analysis
8.3 Economic Impact Analysis
8.4 Government Policies
8.5 Investment Scenario
Chapter 9 North America Tandem Axle Analysis and Forecast
9.1 Introduction
9.2 North America Tandem Axle Market Size Forecast by Country
9.2.1 U.S.
9.2.2 Canada
9.3 Basis Point Share (BPS) Analysis by Country
9.4 Absolute $ Opportunity Assessment by Country
9.5 Market Attractiveness Analysis by Country
9.6 North America Tandem Axle Market Size Forecast by Type
9.6.1 Light-duty Axle
9.6.2 Heavy-duty Axle
9.7 Basis Point Share (BPS) Analysis by Type
9.8 Absolute $ Opportunity Assessment by Type
9.9 Market Attractiveness Analysis by Type
9.10 North America Tandem Axle Market Size Forecast by Applications
9.10.1 Passenger Vehicles
9.10.2 Light Commercial Vehicles
9.10.3 Heavy Commercial Vehicles
9.11 Basis Point Share (BPS) Analysis by Applications
9.12 Absolute $ Opportunity Assessment by Applications
9.13 Market Attractiveness Analysis by Applications
Chapter 10 Europe Tandem Axle Analysis and Forecast
10.1 Introduction
10.2 Europe Tandem Axle Market Size Forecast by Country
10.2.1 Germany
10.2.2 France
10.2.3 Italy
10.2.4 U.K.
10.2.5 Spain
10.2.6 Russia
10.2.7 Rest of Europe
10.3 Basis Point Share (BPS) Analysis by Country
10.4 Absolute $ Opportunity Assessment by Country
10.5 Market Attractiveness Analysis by Country
10.6 Europe Tandem Axle Market Size Forecast by Type
10.6.1 Light-duty Axle
10.6.2 Heavy-duty Axle
10.7 Basis Point Share (BPS) Analysis by Type
10.8 Absolute $ Opportunity Assessment by Type
10.9 Market Attractiveness Analysis by Type
10.10 Europe Tandem Axle Market Size Forecast by Applications
10.10.1 Passenger Vehicles
10.10.2 Light Commercial Vehicles
10.10.3 Heavy Commercial Vehicles
10.11 Basis Point Share (BPS) Analysis by Applications
10.12 Absolute $ Opportunity Assessment by Applications
10.13 Market Attractiveness Analysis by Applications
Chapter 11 Asia Pacific Tandem Axle Analysis and Forecast
11.1 Introduction
11.2 Asia Pacific Tandem Axle Market Size Forecast by Country
11.2.1 China
11.2.2 Japan
11.2.3 South Korea
11.2.4 India
11.2.5 Australia
11.2.6 South East Asia (SEA)
11.2.7 Rest of Asia Pacific (APAC)
11.3 Basis Point Share (BPS) Analysis by Country
11.4 Absolute $ Opportunity Assessment by Country
11.5 Market Attractiveness Analysis by Country
11.6 Asia Pacific Tandem Axle Market Size Forecast by Type
11.6.1 Light-duty Axle
11.6.2 Heavy-duty Axle
11.7 Basis Point Share (BPS) Analysis by Type
11.8 Absolute $ Opportunity Assessment by Type
11.9 Market Attractiveness Analysis by Type
11.10 Asia Pacific Tandem Axle Market Size Forecast by Applications
11.10.1 Passenger Vehicles
11.10.2 Light Commercial Vehicles
11.10.3 Heavy Commercial Vehicles
11.11 Basis Point Share (BPS) Analysis by Applications
11.12 Absolute $ Opportunity Assessment by Applications
11.13 Market Attractiveness Analysis by Applications
Chapter 12 Latin America Tandem Axle Analysis and Forecast
12.1 Introduction
12.2 Latin America Tandem Axle Market Size Forecast by Country
12.2.1 Brazil
12.2.2 Mexico
12.2.3 Rest of Latin America (LATAM)
12.3 Basis Point Share (BPS) Analysis by Country
12.4 Absolute $ Opportunity Assessment by Country
12.5 Market Attractiveness Analysis by Country
12.6 Latin America Tandem Axle Market Size Forecast by Type
12.6.1 Light-duty Axle
12.6.2 Heavy-duty Axle
12.7 Basis Point Share (BPS) Analysis by Type
12.8 Absolute $ Opportunity Assessment by Type
12.9 Market Attractiveness Analysis by Type
12.10 Latin America Tandem Axle Market Size Forecast by Applications
12.10.1 Passenger Vehicles
12.10.2 Light Commercial Vehicles
12.10.3 Heavy Commercial Vehicles
12.11 Basis Point Share (BPS) Analysis by Applications
12.12 Absolute $ Opportunity Assessment by Applications
12.13 Market Attractiveness Analysis by Applications
Chapter 13 Middle East & Africa (MEA) Tandem Axle Analysis and Forecast
13.1 Introduction
13.2 Middle East & Africa (MEA) Tandem Axle Market Size Forecast by Country
13.2.1 Saudi Arabia
13.2.2 South Africa
13.2.3 UAE
13.2.4 Rest of Middle East & Africa (MEA)
13.3 Basis Point Share (BPS) Analysis by Country
13.4 Absolute $ Opportunity Assessment by Country
13.5 Market Attractiveness Analysis by Country
13.6 Middle East & Africa (MEA) Tandem Axle Market Size Forecast by Type
13.6.1 Light-duty Axle
13.6.2 Heavy-duty Axle
13.7 Basis Point Share (BPS) Analysis by Type
13.8 Absolute $ Opportunity Assessment by Type
13.9 Market Attractiveness Analysis by Type
13.10 Middle East & Africa (MEA) Tandem Axle Market Size Forecast by Applications
13.10.1 Passenger Vehicles
13.10.2 Light Commercial Vehicles
13.10.3 Heavy Commercial Vehicles
13.11 Basis Point Share (BPS) Analysis by Applications
13.12 Absolute $ Opportunity Assessment by Applications
13.13 Market Attractiveness Analysis by Applications
Chapter 14 Competition Landscape
14.1 Tandem Axle Market: Competitive Dashboard
14.2 Global Tandem Axle Market: Market Share Analysis, 2019
14.3 Company Profiles (Details – Overview, Financials, Developments, Strategy)
14.3.1 AAM
14.3.2 Meritor
14.3.3 DANA
14.3.4 ZF
14.3.5 PRESS KOGYO
14.3.6 HANDE Axle
14.3.7 BENTELER
14.3.8 Sichuan Jian'an
14.3.9 KOFCO
14.3.10 Gestamp
14.3.11 Shandong Heavy Industry
14.3.12 Hyundai Dymos
14.3.13 Magneti Marelli
14.3.14 SINOTRUK
14.3.15 Hyundai WIA
14.3.16 SAF-HOLLAND
14.3.17 SG Automotive
14.3.18 IJT Technology Holdings
